Ensuring important issues are prioritised and addressed
This is an area where a professional trustee can help to ensure that trustees prioritise and focus on what is of most importance to the scheme.
While it is difficult to remove risks altogether, a professional trustee can help ensure decisions are made having full regard to the risks involved and that steps are taken to manage those risks into the future.
Meeting best practice
A professional trustee through their knowledge of legislative and market changes, as well as their insight into how other schemes operate, can help achieve best practice standards in the operation of a pension scheme.
A professional trustee will have a good understanding of when advice is required and will be able to ensure that any advice is challenged and clarified when necessary.
A professional trustee can oversee service providers and can achieve greater control over the cost of managing the pension scheme.